ALABAMA, N.Y. — Senator Charles Schumer announced Thursday that he supports a proposed $520 million loan guarantee by the Department of Energy sought by Plug Power.
Plug Power is slated to build a hydrogen processing facility at the Genesee County STAMP site in the Town of Alabama.
Last month the Genesee County Economic Development Center approved Plug Power $118 million worth of tax incentives to build the facility. The New York Power Authority is expected to approve further incentives later this month.
Senator Schumer announced his support of the $520 million loan guarantee in a letter to the Department of Energy.
"Securing this federal loan guarantee will be a win-win to supercharge Plug Power to new heights by supporting its planned 68-job hydrogen fuel production facility at the WNY STAMP site in Genesee County while also creating the nation’s first U.S.-wide network of green hydrogen production facilities to produce carbon-free fuel-cell power. I’m glad the DOE has now given Plug Power the green light to pursue a federal loan guarantee. I’ll continue to support Plug Power to the fullest in securing this loan guarantee and creating North America’s largest green hydrogen production facility right here in the heart of Western New York. “
The DOE has approved Plug Power to apply for the loan guarantee, which will help support multiple hydrogen facilities the company is building across the United States, in addition to the plant in Genesee County.
2 On Your Side's partners at Investigative Post have reported that the amount of incentives Plug Power has been given has totalled the cost per job to the taxpayer around $4 million per job.
When the Plug Power facility goes online, it's expected that the facility will produce 45 tons of liquid hydrogen per day.
